Uber Auto & Moto expected to drive Rs 36,000 crore in economic activity in India in 2024: Report

Ride-hailing app Uber on Wednesday released its 2024 India Economic Impact Report, according to which its Auto and Moto services are expected to drive Rs 36,000 crore in economic activity in the current calendar year.

In total in 2024, it is estimated that driver-partners will earn an additional 60 per cent a year in higher income through Uber, relative to their next best alternative type of work, said the report compiled by UK-based consultancy, Public First.

Uber is estimated to boost drivers' earnings by about 24 per cent compared to working without a platform, it claimed. President, Uber India and South Asia, Prabhjeet Singh, told reporters here: “We estimate that Uber Moto and Uber Auto will support Rs 360 billion of economic activity (exchange of money between the customer and rider through the platform) in India in 2024."

Over the next five years, the total size of the ride-hailing auto market and its potential economic impact could grow by another 50 per cent, he said.